Latest Canadian Securities Regulators' enforcement efforts result in approximately $6.3 million in sanctions

    MONTREAL, Jan. 8 /CNW/ - The Canadian Securities Administrators' (CSA)
latest joint report on enforcement activities shows that Canada's securities
regulators worked together to complete 58 cases involving 226 companies and
individuals, resulting in monetary sanctions, settlements and disgorgements
totalling approximately $6.3 million. Additionally, regulators stopped 13
individuals and companies who were banned in one province or territory from
continuing operations elsewhere. This edition of the CSA Report on Enforcement
Activities highlights regulatory enforcement activities that occurred during
the period April 1 to September 30, 2007.
    During this period, the CSA also initiated proceedings in respect of 56
new enforcement matters and issued 42 interim orders to freeze assets and/or
stop individuals and companies from trading in Canada's capital markets.
    Canadian criminal courts convicted 13 individuals and three companies of
violating securities laws as a result of proceedings initiated by CSA members.
These convictions resulted in $1.6 million in fines and restitution orders,
and jail sentences for individuals up to six months. The majority of these
court convictions were against those found to have illegally distributed
    "We issue this report twice a year to raise public awareness of the
enforcement efforts that securities regulatory authorities are taking
individually and collectively to protect Canadian investors and Canada's
capital markets from harm," says Jean St-Gelais, Chair of the CSA and
President & Chief Executive Officer of the Autorité des marchés financiers
(Québec). "The results clearly demonstrate that Canada's regulators take very
seriously any risk to investors and the capital markets."
    The report not only identifies securities commission and court decisions
in all of the CSA jurisdictions, but also provides information related to
enforcement activities carried out by self-regulatory organizations such as
the Investment Dealers Association of Canada, the Mutual Fund Dealers
Association of Canada and Market Regulation Services Inc. The report also
gathers information regarding the activities of the Chambre de la sécurité
financière, as well as the Montreal Exchange.
    The seventh CSA Report on Enforcement Activities is available on the CSA
website ( and several provincial and territorial
securities regulators' websites.

    The CSA is the council of the securities regulators of Canada's provinces
and territories whose objectives are to improve, coordinate and harmonize
regulation of the Canadian capital markets.

For further information:

For further information: For media inquiries: Alberta Securities
Commission, Tamera Van Brunt,, (403) 297-2664,
1-877-355-0585 (toll free),; Autorité des marchés
financiers, Frédéric Alberro,, (514)
940-2176, 1-877-395-0558, No. 2176 (Québec only),; British
Columbia Securities Commission, Andrew Poon,, (604) 899-6880,
1-800-373-6393 (BC & Alberta only),; Ontario Securities
Commission, Laurie Gillett, (416) 595-8913, 1-877-785-1555, (toll-free in
Canada),,; Manitoba Securities
Commission, Ainsley Cunningham,, (204) 945-4733,
1-800-655-5244 (Manitoba only),; Saskatchewan Financial
Services Commission, Barbara Shourounis,, (306)
787-5842,; New Brunswick Securities Commission, Jane
Gillies,, (506) 643-7745, 1-866-933-2222 (New
Brunswick only),; Nova Scotia Securities Commission, Chris
Pottie,, (902) 424-5393,; Department of
Attorney General, Prince Edward Island, Mark Gallant,,
(902) 368-4552,; Financial Services Regulation
Division, Newfoundland and Labrador, Doug Connolly,, (709)
729-2594,; Yukon Securities Registry, Fred Pretorius,, (867) 667-5225; Securities Registry, Northwest
Territories, Donald MacDougall,, (867) 920-8984,; Nunavut
Securities Registry, Jennifer MacIsaac,, (867) 975-6591

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